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Report: Broncos cut veteran CB Drayton Florence

Mike Klis of the Denver Post reports that the Denver Broncos have surprisingly cut veteran cornerback Drayton Florence, whom they signed to a two-year, $4.5 million deal in May.

Klis surmises that second-year player Chris Harris beat out Florence, 31, for the team's nickelback position (behind starters Champ Bailey and Tracy Porter), and perhaps the Broncos felt that that kind of money was too pricey for a fourth CB.

Florence was a second-round pick by the San Diego Chargers in the 2003 draft and signed a big-money free-agent deal (six years, $36 million) with the Jacksonville Jaguars in 2008 but was released after just one season. He spent the past three seasons with the Buffalo Bills.